Assetmark Inc. increased its stake in Medtronic PLC (NYSE:MDT) by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,335 shares of the medical technology company’s stock after buying an additional 230 shares during the period. Assetmark Inc.’s holdings in Medtronic PLC were worth $349,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Intellectus Partners LLC bought a new position in shares of Medtronic PLC during the fourth quarter valued at $130,000. Baystate Wealth Management LLC raised its position in shares of Medtronic PLC by 40.9% in the first quarter. Baystate Wealth Management LLC now owns 1,959 shares of the medical technology company’s stock valued at $157,000 after buying an additional 569 shares during the last quarter. North Star Investment Management Corp. raised its position in shares of Medtronic PLC by 4.4% in the first quarter. North Star Investment Management Corp. now owns 1,973 shares of the medical technology company’s stock valued at $159,000 after buying an additional 83 shares during the last quarter. SRS Capital Advisors Inc. bought a new position in shares of Medtronic PLC during the fourth quarter valued at $141,000. Finally, Liberty Capital Management Inc. raised its position in shares of Medtronic PLC by 45.6% in the first quarter. Liberty Capital Management Inc. now owns 2,111 shares of the medical technology company’s stock valued at $170,000 after buying an additional 661 shares during the last quarter. Institutional investors own 83.08% of the company’s stock.
Shares of Medtronic PLC (MDT) opened at 87.96 on Monday. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The firm has a market cap of $119.54 billion, a price-to-earnings ratio of 30.44 and a beta of 1.04. The stock has a 50 day moving average of $86.21 and a 200 day moving average of $80.30.
Medtronic PLC (NYSE:MDT) last posted its earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.02. The firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.86 billion. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.27 earnings per share. Equities analysts predict that Medtronic PLC will post $4.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a yield of 2.09%. Medtronic PLC’s payout ratio is 63.67%.
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Several research analysts have weighed in on the stock. William Blair restated an “outperform” rating on shares of Medtronic PLC in a research report on Thursday. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $93.00 target price (up from $87.00) on shares of Medtronic PLC in a research report on Thursday, May 25th. BidaskClub upgraded shares of Medtronic PLC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. CIBC restated a “buy” rating on shares of Medtronic PLC in a research report on Friday, May 26th. Finally, Barclays PLC restated an “overweight” rating and set a $94.00 target price (up from $92.00) on shares of Medtronic PLC in a research report on Sunday, May 28th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Medtronic PLC presently has an average rating of “Buy” and an average target price of $88.88.
In other Medtronic PLC news, Director Richard H. Anderson bought 5,600 shares of Medtronic PLC stock in a transaction on Wednesday, June 21st. The stock was purchased at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the purchase, the director now directly owns 71,910 shares of the company’s stock, valued at $6,392,799. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by insiders.
Medtronic PLC Company Profile
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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